WHY ARE CRYPTOCURRENCIES MORE EXPENSIVE IN QUADRIGA CX CANADA
I have noticed that buying cryptocurrencies at Canada's rated No1 exchange is more expensive compared to when you are buying from bitstamp and kraken which have the lowest prices and coinbase . As at the time of my writing this, The price of bitcoin on Quadriga in canadian is $3,550 compared to $3350.37 at coinbase while the the price of ethereum is $354 compared to $335.85 on coinbase . What is responsible for this huge difference . Is it that generally canadians are generally taken for a ride when it comes to issues like these . We probably pay the highest telephone charges in the whole world . Can someone give me a logical explanation to this ?
Market size. Less sellers, less sell pressure. Less buyers, less buy pressure. Next question.
Quadrica is based in canada and Canadians are willing to pay a little more to trade on a platform that operates under canadian laws.
You can also look on the bright side… you'll get more CAD when you eventually go to sell. Glass half full! :)
Personally I buy on Kraken, Poloniex or Bittrex, and then use Quadriga to trade or cash out.
But you're right, I always wondered the same thing myself. I'm guessing @lost.identity and @andydandy's comments are as close to the truth as we'll get. As Canadians, we get charged more—and are happy to pay more—for most things.
I think it's also worth mentioning that Quadriga is one of the best exchanges when it comes to funding/withdrawal options – especially for Canadians.
How do you, quickly deposit CAD on Kraken? The only way I've been able to deposit CAD is to wire money which can take up to 5 days. If you're trying to jump on a trade, no way you'll hit it in time depositing via wire on Kraken.
thanks in advance.